Bicycle Bags and Bag-packs Market Growth Accelerates, Surpassing US$ 1,051 Mn by 2031 - Persistence Market Research

The global bicycle bags and bag-packs market is poised for steady growth, projected to expand at a CAGR of 5.6% from 2024 to 2031. The market value is expected to rise from US$717.7 Mn in 2024 to US$1,051.0 Mn by 2031. Increasing urbanization, rising environmental consciousness, and a growing number of cycling enthusiasts worldwide are fueling demand for specialized bicycle bags and bag-packs.

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Key segments in this market include cycle carrier bags and bag-packs, with cycle carrier bags dominating due to their convenience and storage capacity. Regionally, North America and Europe lead the market, driven by high bicycle adoption rates and supportive government policies promoting cycling infrastructure.

Key Highlights from the Report

The market is expected to reach US$1,051.0 Mn by 2031.
The demand for eco-friendly and lightweight materials in bicycle bags is rising.
Cycle carrier bags dominate the product segment with an 89% market share.
Offline sales channels account for a significant portion of revenue, but online sales are growing rapidly.
Smart bicycle bags with GPS tracking and USB charging capabilities are gaining traction.
The growing number of female cyclists is expanding the consumer base for bag-packs.

Regional Insights

North America:
The U.S. leads the North American market, benefiting from an increasing focus on cycling as an alternative mode of transportation. The U.S. bicycle industry, valued at US$9.5 billion, is directly impacting the demand for bicycle bags and bag-packs.

Europe:
Germany is witnessing rapid growth in bicycle bag sales, with over 70% of the population owning a bicycle. The increasing number of female cyclists and the availability of dedicated cycling paths contribute to the market's expansion in this region.

Market Drivers

Shift Towards Sustainable Transportation
Environmental concerns and government initiatives promoting cycling infrastructure are significantly boosting the market. Consumers are increasingly choosing bicycles over cars, necessitating high-quality bicycle bags for storage convenience.

Urbanization and Active Lifestyles
With cities investing in cycling lanes and bike-sharing programs, urban commuters are adopting cycling as a daily mode of transportation. This trend has heightened the demand for durable and waterproof bicycle bags designed for city travel.

Market Restraints

Limited Awareness and Perception Challenges
Many potential consumers perceive bicycle bags and bag-packs as non-essential accessories. Industry players must enhance awareness about their functionality, durability, and benefits.

Price Sensitivity
While premium bicycle bags offer advanced features, budget-conscious consumers may opt for low-cost alternatives, limiting the growth of high-end products.

Market Opportunities

Innovation in Design and Technology

The integration of anti-theft features, smart tracking systems, and waterproof materials presents significant opportunities. Manufacturers investing in innovative product designs are gaining a competitive edge.

Growth of eCommerce and Direct-to-Consumer Sales

With the rising penetration of online shopping, brands have direct access to global customers. This has lowered distribution costs and enabled companies to offer competitive pricing and discounts.

Reasons to Buy the Report

✔ Comprehensive Market Insights: In-depth analysis of current and projected market trends.
✔ Segmentation Analysis: Detailed breakdown by product type, sales channel, and region.
✔ Competitive Landscape Overview: Profiles of major market players and their strategic initiatives.
✔ Emerging Trends & Technologies: Focus on smart bicycle bags and sustainable materials.
✔ Market Forecast: Reliable growth projections based on industry trends and consumer behavior.

Company Insights

Key Players in the Market

Giant Bicycles
MERIDA BIKES
Wiggle Ltd
Deuter Sport GmbH
Inertia Designs
Lone Peak Packs
MSX
Velotransit
Trek Bicycle Corporation
TOPEAK
Ortlieb USA

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